November 29 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said on Thursday that its unit Gradus-1 has invested 1.8 million levs ($1.05 million/920,000 euro) in advertising and acquiring new machinery, in order to popularise two of its major brands - Gradus and I Eat.
Gradus-1 acquired meat processing machines, vehicles for transporting products and livestock, software and others, Gradus said in a bourse filing.
The investments were part of Gradus' prospectus for an initial public offering on the Bulgarian Stock Exchange.
In June, Gradus raised 81.4 million levs in a two-day IPO on the Sofia bourse. Investors subscribed for 45.2 million Gradus shares, or 81% of the total number of offered shares, at a price of 1.8 levs apiece, making it the biggest IPO on the Bulgarian Stock Exchange since 2007.
The company's shares started trading on the Sofia bourse on August 6.
(1 euro = 1.95583 levs)